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Watch out! Asians Are Very Serious About Blockchain

A Toronto-based author of the book, The Business Blockchain, has hinted that the world should be on the lookout for what could emanate from the growing Asian interest in the Blockchain technology.

Mougayar making a presentation at Talks at Google

A Toronto-based author of the book, The Business Blockchain, has hinted that the world should be on the lookout for what could emanate from the growing Asian interest in the Blockchain technology.

Making the point as a parting shot after making his presentation to the Barcelona Bitcoin Community meetup on Friday November 25 on the topic Success Factors in Decentralized Organizational Models, Blockchain investor and expert William Mougayar, who says copies of his book have just been translated into Chinese and Japanese languages, said the Asians are taking the Blockchain technology seriously hence the need to take note.

“So the point I am making is that: The Asian countries are very serious about the Blockchain and are very serious about studying it and implementing it. So let’s keep that in mind. If you are in Europe or if you are in North America, we should be very aware of what might be coming from all the Asian countries as well.”

Earlier, he highlighted some of the ways the Blockchain technology has been changing the fundamental ways of doing things today especially on the economic front.

He said Blockchain has been challenging the way the work and value equation is changing as it now makes it possible for different kinds of work to be performed through it and service providers who create values with it could get rewarded with a token or cryptocurrency. This earned tokens or currency would be used to create new marketplaces – as they could be spent in another market that is different from the market it was earned – that could eventually create a new economy.

The Blockchain is also challenging venture capital because companies do not really need to go and raise money through venture capitals now but they can do it on their own by creating Initial Cryptocurrency Offer ICO. While the ICO is similar to what VCs are doing, Mougayar says it is also exciting for firms as it gives them more control over their destiny and give up less ownership to VCs but rather give more all the users that are contributing to helping them move forward.

“So, cryptocurrency offerings are challenging the traditional VC model because it is providing liquidity much faster and it is also challenging how we expect returns to happen,”

Mougayar added in the video presentation about ICOs which he says are suitable to be launched in any phase of a new firm’s life cycle.

Other speakers at the event are Fernando Gutierrez on Dash Governance System – Analysis and Suggestions for Improvement; Manfred Karrer on Bitsquare DAO and Adam Vaziri on Blockchain governance: Legal perspective.